The turnover in the manufacture of electric lighting equipment sector in Sweden has displayed a generally positive trend from 2013 to 2023, with some year-to-year variability. The turnover increased noticeably from SEK 4.75 billion in 2013 to SEK 6.69 billion in 2023. A significant surge was observed in 2020 with a 21.11% year-on-year increase. However, the growth had some inconsistencies with a slight decline in 2017 and a more significant dip in 2021. Looking at the period from 2018 to 2023, the Compound Annual Growth Rate (CAGR) stands at 4.19%.
As we stand in 2024, the forecasted turnover continues to rise steadily, predicted to reach SEK 7.53 billion by 2028. The future five-year CAGR is estimated at 1.87%, with an overall growth rate of 9.72% for the forecast period.
Future trends to watch for in the sector might include:
- Technological advancements driving efficiency and innovation in lighting equipment.
- Increased focus on sustainable and energy-efficient lighting solutions.
- Government policies and regulations promoting green technology and energy conservation.
- Expansion of smart lighting systems in residential and commercial applications.
